Example Of Divorce Agreement

A marital agreement or “MSA” describes the basic conditions of a divorce between a married couple. If there is no marriage contract, the partner with a higher income must provide financial assistance to the other. This takes the form of alimony and family allowances. You take your completed agreement to court, and if the judge finds nothing in violation of state or state laws, he/she will implement the terms of your agreement. (Note: in the absence of a formal investigation, the judge cannot judge whether your transaction is fair or not – meaning “fair” – only whether it is legal or not.) But how do you establish a divorce agreement so that it is ready for the courts? Mark`s standard of living will decrease as soon as there is a divorce, as he earns less than Joan. They went to mediation, and Joan decided to pay temporary spouse assistance, deductible at tax time, rather than splitting assets in John`s favor. If you are negotiating a divorce agreement, it is essential that you understand that “equal” does not mean a 50/50 division. Right away, it means what is right for both parties involved. You won`t get everything you think you`re looking for and you need to be able to compromise for the good of all parties involved. In ensuing this divorce agreement, the parties represent and warrant that the parties have resolved any issues or disagreements regarding the equitable division of tangible property.

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